Regulatory AlertsReporting Through the Financial Services Authority Reporting System and Financial Condition Transparency for People's Economic Banks and Sharia People's Economic Banks
The Financial Services Authority of Indonesia issued POJK No. 23 of 2024 to mandate the digitalization of reporting and enhance financial transparency for People's Economic Banks (BPR) and Sharia People's Economic Banks (BPRS). This regulation consolidates and replaces three prior reporting and transparency rules while simplifying report content to align with prudential principles and technological advancements. It establishes an effective date of January 1, 2025, repeals specific administrative fines and governance provisions, and imposes sanctions for late or non-compliant submissions prior to that date.
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